Is Boonton, NJ 07005 a buyer’s or seller’s market?

The Boonton housing market right now

In the three months ending August 31, 2026, 64% of homes in Boonton, NJ 07005 sold above their list price, the typical home went under contract in 28 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 51 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 70%, homes sold more slowly (18 days then) and the median sale price rose 14% to $800,154. Overall, Boonton is less competitive than a year ago, which gives buyers more room.

Within Morris County, homes here sell more slowly than in 89% of the county’s ZIP codes, and sell less often over asking than in 54%. On our competition score, Boonton ranks #114 of 444 NJ ZIP codes with enough sales (score 88 out of 100).

Nearby, buyers who want less competition could look at Hibernia 07842 (0% sold over asking) or New Vernon 07976 (20% sold over asking), while Kenvil 07847 (100% sold over asking) and Mount Tabor 07878 (100% sold over asking) are even more competitive.